May 2023

Trends and Resources

Business Trends: In uncertain times, how can industry balance energy security, sustainability and affordability?

What happened in 2022 has challenged assumptions about the energy transition.

FT Longitude, FT Longitude

What happened in 2022 has challenged assumptions about the energy transition. Energy markets changed dramatically when the geopolitical crisis with Russia placed energy security front and center. As natural gas jumped to record prices, many gas-dependent companies and governments were forced to revisit their energy strategies. In the second-half of 2022, Baker Hughes surveyed 555 senior executives in 21 countries who are active in energy and broader industry to find out what this means for the energy transition1 and ask: Can they balance energy security, sustainability and affordability to solve the energy trilemma? From this research, three broad themes emerged: Net zero is still on th

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